CBN’s action on #EndSARS promoters’ accounts reckless, says Banire

November 16, 2020
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Former legal adviser to the All Progressives Congress (APC) Muiz Banire, has described the freezing of bank accounts of #EndSARS promoters by the Central Bank of Nigeria (CBN) as abominable and reckless.

Banire, a former Commissioner for Transportation in Lagos State under former Governor Bola Ahmed Tinubu, said the apex bank is no expert in terrorism and therefore lacks the legal backing to investigate the crime.

He called the CBN a “meddlesome interloper” that was only playing out a script written for it by the Federal Government.

Writing on his verified Twitter handle on Sunday, November 16, Banire described the action of the CBN as being “abominable and reckless,” calling on the bank to unfreeze the accounts of the 20 Nigerians because “such powers vested in CBN is unconstitutional and questionable.”

“CBN is not a crime investigation department and constitutionally cannot investigate crime. That being so, it cannot be freezing people’s accounts on ground of any suspected crime. The Bank is the examiner of commercial bank accounts and not individual’s accounts.

“Obtaining ex-parte order to enquire and investigate private accounts is certainly beyond its brief. What is the function of Nigeria Financial Intelligence Unit?

“What expertise does the CBN have in investigating terrorism and other crimes? The Bank remains, in recent times, a meddlesome interloper in affairs that do not concern it. In my strongest view, I believe, all Nigerians must rise up against this power being arrogated to the Bank.

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